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Thread: Understanding the anatomy of the Financial crisis

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    Senior Member cotts135's Avatar
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    Default Understanding the anatomy of the Financial crisis

    A recent article in Rolling Stone magazine written by Mike Taibbi, I believe, effectively explains in laymen's terms the financial crisis we are currently in. I know that to are more conservative members Rolling Stone magazine is viewed as a liberal or even a communist publication and not worthy of the paper it is printed on. I would suggest however putting down any bias you might have and read the article with an open mind.
    The anger Americans feel about this is justified and this article points out that Wall St. has been run by a bunch of manipulative, greedy and unprincipled bunch of crooks for years and that it needs to change and respond to the interests of the public instead of themselves.

    http://www.rollingstone.com/politics..._big_takeover/

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    Senior Member TCFarmer's Avatar
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    Quote Originally Posted by cotts135 View Post
    The anger Americans feel about this is justified and this article points out that Wall St. has been run by a bunch of manipulative, greedy and unprincipled bunch of crooks for years and that it needs to change and respond to the interests of the public instead of themselves.
    You realize that these people gave a lot of money to BHO.

    http://theprolific.com/2008/08/meet-...orate-backers/

    Actually at this point last year both Hillary and Obama were outpacing McCain in getting Wall Street money.

    http://articles.latimes.com/2008/mar...a-wallstdems21

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    Senior Member cotts135's Avatar
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    Quote Originally Posted by TCFarmer View Post
    You realize that these people gave a lot of money to BHO.

    http://theprolific.com/2008/08/meet-...orate-backers/

    Actually at this point last year both Hillary and Obama were outpacing McCain in getting Wall Street money.

    http://articles.latimes.com/2008/mar...a-wallstdems21
    At least the bastards bet right on that outcome. As citizens it more important than ever that we educate ourselves on what happened and that we stop acting in the best interests of the tycoons of Wall St. Obama needs to know as does Congress that this cozy relationship with these corporations needs now to be scrutinized, transparent and regulated like it was under a microscope.
    Obama's first move should be to get rid of Geithner.

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    Senior Member K G's Avatar
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    Virtually ANY democrat could've run for President and won...didn't matter who they ran against. They just voted for the one that said what they wanted to hear.

    How's that workin' out so far???????????????????????????

    kg
    I keep my PM box full. Use email to contact me: rockytopkg@aol.com.

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    Senior Member Buzz's Avatar
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    Quote Originally Posted by K G View Post
    How's that workin' out so far???????????????????????????

    kg
    To me it looks like he's following in the footsteps of Clinton and Bush.
    "For everyone to whom much is given, of him shall much be required." -- Luke 12:48

    Raven - Moneybird's Black Magic Marker***
    (Esprit's Power Play x Trumarc's Lean Cuisine)
    Mick - Moneybird's Jumpin' Jack Flash***
    (Clubmead's Road Warrior x Oakdale Whitewater Devil Dog)
    Peerless - Moneybird's Sole Survivor
    (Two River's Lucky Willie x Moneybird's Black Magic Marker)

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    Quote Originally Posted by cotts135 View Post
    Obama's first move should be to get rid of Geithner.
    With Geithner's ethical lapses he should not have been confirmed, but it happened. He probably was underqualified to hold his previous positions, but that's his pedigree, & it looks good on a resume.

    To make a change at this time would not be a good move, the people that count (meaning the private sector) are getting a read on Geithner & will get the country out of this problem given just a few tools to work with. As for former Treasury Secretary's think Paulsen, Snow, O'Neill & Rubin in recent times, name one of those who really had control of the subject. Any successes they encountered were more dumb luck than part of a cohesive plan. & I'm especially disappointed in Rubin, wealthy beyond imagination because of his actions, what did he create?
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    Senior Member Buzz's Avatar
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    Quote Originally Posted by Marvin S View Post
    Any successes they encountered were more dumb luck than part of a cohesive plan. & I'm especially disappointed in Rubin, wealthy beyond imagination because of his actions, what did he create?
    Bingo. Especially bingo on the "what did he create?" Hell must be freezing over today Marvin...
    "For everyone to whom much is given, of him shall much be required." -- Luke 12:48

    Raven - Moneybird's Black Magic Marker***
    (Esprit's Power Play x Trumarc's Lean Cuisine)
    Mick - Moneybird's Jumpin' Jack Flash***
    (Clubmead's Road Warrior x Oakdale Whitewater Devil Dog)
    Peerless - Moneybird's Sole Survivor
    (Two River's Lucky Willie x Moneybird's Black Magic Marker)

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    Quote Originally Posted by Buzz View Post
    Bingo. Especially bingo on the "what did he create?" Hell must be freezing over today Marvin...
    The disappointment is/was that I thought Rubin to be the star in the Clinton cabinet.
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    Someday your life will flash before your eyes. It's your responsibility to make sure it's worth watching!

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    Senior Member Buzz's Avatar
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    Want a better understanding? Read this:

    http://www.dailykos.com/story/2009/3...c)-bank-assets

    If you blow it off because of where it's posted, then I'm sorry your ideology won't allow you to read anything that might conflict with your beliefs.

    The Obama/Geithner plan is very disappointing...
    "For everyone to whom much is given, of him shall much be required." -- Luke 12:48

    Raven - Moneybird's Black Magic Marker***
    (Esprit's Power Play x Trumarc's Lean Cuisine)
    Mick - Moneybird's Jumpin' Jack Flash***
    (Clubmead's Road Warrior x Oakdale Whitewater Devil Dog)
    Peerless - Moneybird's Sole Survivor
    (Two River's Lucky Willie x Moneybird's Black Magic Marker)

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    Before we start - let's have one for the Lady Jackrabbits - 31-2, whopped TCU 90-55 & can't get a mention on ESPN. It's all about TN getting beaten badly by a mid-major.

    Quote Originally Posted by Buzz View Post
    If you blow it off because of where it's posted, then I'm sorry your ideology won't allow you to read anything that might conflict with your beliefs.
    I used to subscribe to the New Yorker - stopped when their love of all things originating in NY got to be more than I could stand. But their cartoons were priceless, have the entire collection. But I do draw the line at reading articles without content, which many liberal/conservative idealogues use to stir up the masses. Article's not bad, how many of your idealogy will understand it?

    [quote=The Obama/Geithner plan is very disappointing...[/quote]

    YOUR GUYS - Do you want me to remind you again next week.
    __________________________

    Marvin S

    Everyone's friend is No One's friend

    Someday your life will flash before your eyes. It's your responsibility to make sure it's worth watching!

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